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Search Results 0 to 41 of about 42 (some duplicates have been removed)
line in terms of fiscal cliff spending and revenue raised in the next three weeks, and, yes, that's at the end of the month. they'll get through that, but, again, you want to have leverage when you have that conversation. that leverage is going to, i think, hinge off of what you were saying, and i think you're right. boehner has probably the better hand to play here given that really there's not a strong hand, but it's a better hand than what he otherwise would have in terms of negotiations. if he is just allowed get in the room and negotiate the deal because he knows he has all these other, you know, arrows in his quiver that he can use. >> i just -- i think it's hopeful that they went -- that he went to the white house yesterday and almost kind of hopeful that at least everybody is agreeing not to say anything, as opposed to leaking bad news. really quickly, jonathan, the president is going to michigan, and he will be -- well, he is there en route now. the right to work law in michigan could be signed as early, i believe, finalized as early as tomorrow. what is the president owe
is enough to get us past the fiscal cliff, turn off these automatic spending cuts and make sure that taxes don't go up. and then they would figure out what to do with the upper bracket. and then there would be a mechanism that would guarantee further action next year. if at all possible, they would disagree next year and there would be some sort of trigger or punishment for their lack of action. that sounds relatively simple, i think, putting it all together could take at least a couple of weeks after they have a deal. there could be some inevitable blocks either by conservatives in the house or in the senate. blowups either byow wha conservatives in the house or in the senate. the details can get pretty political party quickly. there's so much in flux. it all presupposes that the get an agreement. there was a school of thought that they could not get an agreement until tax rates actually go up next year. >> you can follow himat @apandrewtaylor. >> a discussion on the u.s. economy and you pull in the middle class with participants from think tanks, academia and business at 8:30 a.m. easter
a deal on the fiscal cliff or else automatic spending cuts and tax hikes will kick in and with the fiscal cliff looming, our consumers feeling at all concerned? christine romans joins us now from new york with that. good morning, christine. >> good morning, ted. first, let me tell you what's going right in the economy for consumers. there's a whole host of things. the job markets, 7.7% unemployment, the lowest in four years. you've got the housing market showing signs of recovery. rising home values in much of the country. gas prices, did you notice? they're down 46 cents over the past couple of months. they're expected to keep going lower and the dow is up 20 points now. the dow is above 1,300 and the s&p 500 is up 12% this year. so, what could go wrong? fiscal cliff. this is something weighing op consumer sentiment and we're starting to see it in the weekly -- look at this -- 39% said it would affect it some. they don't seem to have much faith in congress to fix it and any time except 11th hour and maybe a week into the new year and there's this payroll tax holiday that most people have
fear of republicans we cut a deal in the short term on fiscal cliff without any real spending reform or tax reform and won't have enough time or political will to get the real reforms that need to take place and republicans raise taxes and get no spending cuts. >> that's the biggest fear of democrats we don't deal with thi this. >> eugene, we were showing the tape of harry reid. we write, republicans must wise up. the biggest problem the republican party faces is not uninspiring candidates or unsound tactics, it is unpopular ideas. >> good lord, gene, you have just written a column i disagree with even more than jeff gre greenfeld's column. it will be one of the better segments. we can talk about that for five hours. keep reading, i can't wait to hear what's next. >> this reality was brought home in last month's election and playing out in the struggle over how to avoid the fiscal cliff and we will see it again in coming fights of immigration and entitlements and a host of other things. the sad thing is republicans get this stuff so wrong that democrats aren't even forced to go to th
of the fiscal cliff negotiations. the mortgage interest deduction. government spending on this will reach $100 million by 2014, making it the third largest tax break on the books. who does it help? 41 million people. the most recent irs data showed that 41 million people claimed this deduction on their 2010 tax returns. the tax policy center says it tends to benefit upper middle class families the most. these bars show income in the circles the average savings. for those with incomes of less than $40,000 a year, their savings is $91, look at the people who make $250,000 and more. their average savings is about $5500. this benefits people most on both coasts and cities like chicago, with higher property prices, and we watch the fiscal cliff negotiations closely for what could happen next to this tax goody next year. >> here's the question i'm hearing people ask, if we go off the cliff here, how big a hit will we take on taxs? stand by, because i'm about to give you the closest answer i possibly can. to help me with that is laurie montgomery, she is the fiscal policy reporter for the washington
're not having a conversation about spending. the republicans and democrats alike designed the fiscal cliff. it's a series of bipartisan compromises and i think it's kind of foolish to think that this group of congressmen and senators is going to come up with a way out of something they themselves designed. >> rich, you worked for a republican speaker who went up against a democratic president over the spending issues. back then the face-off didn't turn out all that well for your party. obviously very difficult era. do you agree with eric's take? is the right strategy for republicans to stick to their guns, forget about compromise? >> no. i really don't -- eric is one of my favorite people. we talk a lot. but i think that, and i did work for the speaker gingrich during the shut-down fight in '96, and it did not work out well for republicans. the president has a much bigger bully pulpit than the speaker does. newt gingrich's bully pulpit was pretty big back in those days but at some point, republicans in the house -- and i think boehner is trying to look for ways to do this, speaker boehner, tha
to the fiscal cliff and not one iota closer to a deal to avoid it. now, on january 1st, four weeks from today, automatic tax hikes and spending cuts kick in with potentially serious consequences for virtually every taxpayer in this country. there has been zero progress on a deal, zero. keeping them honest though, the american people clearly want a compromise, polls show they want results. but the two sides are still far apart on the issue at the heart of the debate, whether the wealthiest americans should pay more taxes than they do right now. the people you elected to get things done, they're not getting them done, not even close. in a cnn/orc poll taken a few weeks ago, 67% said washington officials would behave like spoiled children in fiscal cliff discussions. only 28% said they would behave like responsible adults. with that in mind, here's what the key players, the grownups, have said in just the past 24 hours. listen. >> the math, it doesn't work. >> his proposal was so outlandish, i don't think we should go back to the table until he puts something there that we can work with. >> we'r
the conversation over to the spending cuts and the fiscal cliff negotiations. two questions on that. one is, does that suggest that there is movement, so we're no longer talking about tax cuts or tax increases? and where is the administration, i know you guys have argued back that they have provided details on spending cuts, but are you prepared to offer more? today you have a letter from c.b.o.'s urging that spending cuts, entitlement adjustments and so forth be a multiple, a greater multiple than revenues. is the white house prepared to do more on that front? >> let me take your questions in relative order. first of all, i did hear what the speaker of the house had to say. and i would note that if there is one fact that should not be in dispute it ought to be this, the president, unlike any other party to these negotiations, has put forward detailed spending cuts as well as detailed revenue proposals. it is a simple fact that the president put those forward to the nat so super supercommittee in september of 2011. and that he again in the process of these negotiations put them forward as his pos
because in just a couple weeks the fiscal cliff is coming to town. merry cliffmas. if the parties here cannot agree to a budget deal by january 1st, automatic spending cuts will kick in and plunge america into a second recession. and things are not looking too good. >> democrats and republicans are blaming each other for the negotiations. >> who's going to blink first? >> who's going to blink first? >> the white house is daring republicans to blink. >> obama is daring republicans literally to blink. the joke's on him because i know some republicans who have had their eyelids surgically removed. >> also what caused former indiana senate candidate richard mourdock at first the likely winner in that race to end up losing to joe donnelly? you might well point to this moment from a mourdock/donnelly debate. >> i struggled with it myself for a long time but realized life is a gift from god. even when life begins in the horrible situation of rape it is something god intended to happen. >> mourdock's popularity plummeted after that. now he's trying to pay down campaign debt. guess who's gettin
of the fiscal cliff. let me take a look at that. >> no real reform. instead spending taxes. we neat bipartisan ideas we can all support. >> dana, is any of that going to make a difference or maybe a broader point is how much are outside groups generally, whether it's on the hill or on tv influencing this debate? >> if it works as well as karl rove's effort during the campaign, i think the president is going to ask him to run more of those ads because it didn't work out so well for him the last time. this is a little different from a political campaign in that spending by interest groups is probably not going to be big enough to crowd out all of this noise that's being made here. i think that interview you just had with tom price was extraordinary for what he didn't say. he didn't say i won't allow taxes to increase. he said it depends on what the overall package is. that's an extraordinary admission is for one of the most conservative congressmen in the house and i think it shows where these guys are headed. >> when you look at the polls and you see how the messaging is working, susan, and to
. martha: west virginia senator joe manchin, a democrat discussing the fiscal cliff, social security within medicare. he believes they must be run more efficiently. >> last year the office of budget management says $115 billion was misspent. that's a tremendous savings right there. they are both much lower than everyone says we need. all economists say we need a minimum of $4 trillion or greater swing. that means a combining of many things. i think both of them are in the two or not much more than two or lower than two. that only goats you halfway there. i don't know how we got off track of what we really need to fix this. martha: he argues the economy is ready to take off if people would just stop playing the blame game. bill: one of the changes that may be coming is the reduction in the mortgage interest rate duck you can claim. but according to the i.r.s. only a small percentage of americans claim it after all. all. 37% in maryland and 15% in north dakota. 73 per of americans are opposed to changing that. martha: the owner of popular restaurant chains claims complaints about obama-care h
that the president has adopted a deliberate strategy to slow walk our economy right to the edge of the fiscal cliff. instead of reforming the tax code and cutting spending, the president wants to raise tax rates. but even if the president got the tax rate hike that he wanted, understand that we would continue to see trillion dollar deficits for as far as the eye can see. washington has got a spending problem, not a revenue problem. if the president doesn't agree with our proposal, i believe he's got an obligation to families and small businesses to offer a plan of his own, a plan that can pass both chambers of the congress. we're ready and eager to talk to the president about such a plan. >> you did speak with the president earlier this week. can you characterize that call? did he have any kind of count offer and we understand that he is making clear that it's got to be increase rates for the wealthy or no deal. are you willing to give a little bit? >> the phone call was pleasant but was more of the same. the conversations that the staff had yesterday were more of the same. it's time for the presid
before the fiscal cliff deadline. the whitehouse open sists tax rates must rise on higher incomes in order to balance spending cuts but republican leadership remains committed to extending the bush tax cuts for all a tax bracket. brainer offer his response to the president. in an interview with julianna goldman of bloomberg news obama called the boehner plan quote out of balance. >> i think that we have the potential of getting a deal done, but it's going to require what i talked about during the campaign which is a balanced responsible approach to deficit reduction that can help give businesses certainty and make sure that the country grows. and unfortunately the speaker's proposal right now is still out of balance. he talks for example about $800 billion worth of revenues but he says he's going to do that by lowering rates. when you look at the math, it doesn't work. >> rose: and here is the president talking about why it's essential for him that there be tax increases for the most wealthy among us. >> i don't think that the issue right now has to do with sitting in a room. the
the fiscal cliff, president obama and john boehner met sunday to discuss the issue. republicans and democrats have been deadlocked how to prevent tax hikes and spending cuts set to kick in with the new year. the details of the conversation are being kept under wraps but both are saying the lines of communication are open. >>> the two deejays who pranked the hospital treating the duchess of cambridge last week now has had their show canceled. a nurse who was tricked by the hoax was found dead friday. the deejays who imperson ated queen elizabeth and prince charles say they are heartbroken and sorry if they played any role in the nurse's death. >>> mexican-american singing sensation jenni rivera was killed sunday when her plane cra crashed shortly after takeoff from monterey, mexico. all seven people were killed in the crash. a 43-year-old california native had sold more than 23 million records and was one of the biggest stars on mexican television. >>> south korean gangnam style singer psy did appear at last night's christmas in washington concert. under mountin pressure he apologized friday a
, the closer our economy gets to the fiscal cliff. >> nobody should trust democrats to put a dime until real deficit reductions. >> reporter: to better understand the gop positioning, remember what any reduction deficit looks like drawn from two different pots of money. first, tax revenue. second, spending cuts likely to center on changes to entitlements like medicare. on revenues, republicans already conceded to tax increases for the wealthy. the big sticking point is what kind and how much. since that is angering many on the right who oppose any tax increases, republicans want democrats to take the heat for entitlement cuts by proposing them first so republicans don't face the wrath of seniors, too. remember this 2011 ad depicting paul ryan throwing granny off the cliff? the white house says it's republicans who haven't offered specifics and the president has. >> very specific spending cuts, including savings in entitlement programs. again, i -- it's not a mystery. we've seen this before. this is the document. >> reporter: that document is last year's white house recommendations to the sup
of three months. what we need to be more focused on is to get through the fiscal cliff and get a deal done and lay the foundation for long-term fiscal reform. it is focused primarily on health care. >> senator, can you wait in on this? cbo, 10-year window, this is a requirement. congress needs to address these things. a roadmap, if you will. should we change the rules before we play the game? >> all of these extraordinary and practical ideas cannot survive in the cbo structure. that is a forcing mechanism. people are grasping onto ideas such as changing the age. people can easily explain it i and understand it instead of doing the more complex and difficult things that would get you where you want to go. i would be interested -- i have always opposed -- >> i did not hear that. >> directive scoring when it comes to cbo. i do think somehow and i think this is the governor's point, which is congress ignores a lot of stuff that makes sense. it gets wrapped up in its day- to-day activities. i honestly think you break out of this is if you get a white house and leadership in congress that are wi
. it is a very real possibility that the country will head over the fiscal cliff. some lawmakers say that's not such a bad option. wedged also see a partial deal which would put off much of the negotiations until next year when congress tackles the debt ceiling. more than bill press coming up after the break when we are live in our chat room current.com/billpress. see you there. my masters degree was done completely online and that gave me the freedom and ability to do my education while i raised my kids and worked full time. raising my kids as a single mom and having them see me get my education online and work full-time has given them the opportunity to see that they can do anything that they want to. i'm currently the hospital administrator for two public hospitals. we serve patients who might not otherwise get care. i teach an online nursing program. i feel that i'm giving back something to the nurses that are attempting to get their bachelors degree like i did. doing online education is something that i suggest to many, many people. [ male announcer ] you like who y
cliff comes, then $600 billion in automatic tax increases and spending cuts will kick in. that could affect a lot of programs in this room. that, wolf, is going to lead a lot of voters, democrat and republican, unhappy. >> tom foreman. dramatic way of explaining what's going on. love that virtual studio he's got over there. thank you. >>> new clues potentially uncovered in a deadly decades old mystery haunting a reform school. you'll find out what researchers think they have found. that's next. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ [ male announcer ] with a select terrain dial that adjusts the jeep grand cherokee's performance for specific weather and road conditions... ♪ ...even heavy snowstorms... won't keep you from getting to work. our apologies. ♪ >>> researchers may have unkfred shocking new evidence of a mass grave at a now closed florida reform school. where years ago family members say d
of this so-called fiscal cliff deal? >> well republicans are pushing all along, saying we could actually see a scenario where our members agree to rate hikes. if you brought the real money to the table. aggressive entitlement reform. some kind of medicare overall is what's anticipated. because democrats have said they're not going to touch social security and medicaid is an expansion of medicare. but medicare is the program that was in the offing in the 2011 budget deal that fell apart between the speaker and the president and the republicans are asking him to look at that program. the left is telling him not to. you hear a lot of talk about how they want to focus on the taxes and get us over the fiscal cliff. but as i said before, it doesn't matter what the president says about the debt ceiling fight. republicans are not budging on taxes without entitlement reform. they're willing to go over the cliff and when there's nothing else to talk about but the debt ceiling increase in january, it has to be for medicare reform and exchange. >> dollar figure on entitlement reform, what are you thinki
year 2012 and the amt fix is now the sleeping giant in the fiscal cliff budget negotiations that as of this hour are still focused entirely on income tax rates. there is much more that congress has to solve than income tax rates including the amt, medicare spending, medicaid, and possibly social security. joining me to talk about the things that congress is not yet talking about but will soon be talking about, joeyç reed and chris hayes. chris, the amt has a deadline to it that is sharper than anything else in here, because these 2012 tax returns going to have to be calculated with either this new version of the amt or the fixed version, and that is the difference between it affects -- it adds tens of millions of people getting bitten by this thing. i know that the insiders are more worried about that actually getting fixed than the cliff at this point. >> yeah. when i started covering capitol hill in washington, there were two things that people talked about, which was the amt patch and the dock fix. everyone is like where are we on the amt fix. they adjust the payments a
at the white house to discuss how to resolve the fiscal cliff. >> few details were released about the meeting yesterday. >> if lawmakers fail to strike a deal before the end of the year, tax increases and spending cuts will go into effect. some analysts say could push the economy back into recession. >> the latest count finds the number of homeless people stayed about the sanctions in january of 2011 and january 2012. the house and other rebel the provinces a sluggish economy as some what countered affect the house the homeless that numbered being around 633,000 people. the percentage of homeless vets as well as those homes for more than a year each dropped by 7 percent. the obama administration has set a goal of eliminating homeless veterans and chronic homeless as by the end of 2015. >> coastal communities destroyed by superstar on sandy are rushing to rebuild their boardwalk in time for next summer. they are in a race to finish by the end of may to retain tourist money they will need next year. seaside heights, new jersey gets about 75% of its budget for tourism. sounds like bellmawr, new
and they had tax revenues to pay for it. it's one of the reasons why the fiscal cliff could be as bad for the economy. if state and local governments are continue to cut back or not spend, still hoarding catchsh and consumers aren't spending ex is for a new iphone the one positive input to the gdp right now, maybe not in six months but right now, the one positive input is the fed recall government. if the federal government through the fiscal cliff is going to withdraw $600,000,000,000, which is what the live would do, it will throw us back into a recession. >> that's just what we don't need now. >> bill: i was going to ask you and i think you are getting to it already is what now does president -- two things: what does president obama say he will have an opportunity somewhere today, what does he say about these numbers? two, can he use these numbers to bolster his case for a deal on the fiscal cliff? >> the answer first of all, f they were to dahl me i would say don't take a victory lap because it's 7.7% unemployment. if you are under employed or you have
. sounds like he will get a deal with the fiscal cliff. that he can go to his base and say here's what i got you. so it sounds like he's going to come out of this latest negotiation strong and so he's going to be able to use that, as you say, use that capital. use that clout to try to get something done and it's very encouraging. you have lindsey graham from south carolina who now probably isn't going to face a primary challenge. because of the demint seat now. working with senator schumer from new york, trying to work this out so if there's any positive repercussions from the demint thing is the fact that lindsey graham might now be more likely to work with schumer graham one of the leaders on this issue and work with the democrats in general to try to get something done. it failed -- the talks failed in 2011. this is another shot. >> bill: well, you know, it is -- it is time for this issue. way pastime. way pastime for this issue. >> use the presidential bully pulpit to get this done. the question is what exactl
with a deal on the fiscal cliff? why? because it represents the beginning of american austerity. higher taxes in the long run, spending cuts in the long run, that is a headwind for stocks. not a tailwind. i know everybody's excited about the deal being made. but a substantial minority believes that's a deal for the fed stocks. the general consensus down here, current purchases, $85 billion, is going to continue. instead of $45 billion from operation twist, operation twist goes away, and you go to outright purchases of treasuries. and you continue with that $40 billion in mortgage-backed security purchases. the $85 billion, they're doing right now, continues in a slightly different form. you guys, we're talking about aig. just two observations on aig. you'll notice here, it looks like to me they're not repurchasing any of their shares. they're dumping a huge amount of shares on the market. aig isn't actually buying it back. that's a signed of strength for the company. the other interesting thing is, the losses on sandy have been coming in recently. aig gave $2 billion in pre-tax losses. you in
that created it. >> bill: sure. they're the ones who brought us to the fiscal cliff as we were talking yesterday because their super committee failed to do its job and now we have the sequestration hanging over our heads. >> they constantly create a situation, try to blame obama. >> bill: kevin, do you think we dare say look, hold the line and if you don't raise rates on the top 2%, we're not going to make a deal? >> absolutely. hold the line. i'll gladly pay more taxes than to have some rich son of a bitch pay more. >> bill: you and me both. that's all right. i'm willing to do it. i am a patriotic millionaire. i ought to -- i should join the club. thanks, kevin for the call. >> announcer: this is the "bill press show." which was just as you say -- maybe it was starve the beast. i'll look it up during the break. going to do the young turks. i think the number one thing that viewers like about the young turks is that we're honest. they know that i'm not bs'ing them with some hidden agenda, actually supporting one party o
Search Results 0 to 41 of about 42 (some duplicates have been removed)